Re: Ready for construction - November 2010

IlikeJessie3...he wasn't directing a rude comment at you. He was describing the general Chinese population regarding their mannerisms (and, I can attest that it is true, as I've seen it with my own eyes). The Chinese have a completely different set of manners from the Western world.

Re: Ready for construction - November 2010

I've told you two months ago on D&M that the Shanghai Disneyland deal wil be announced in November, after the end of the Shanghai World Expo? Well, the Expo closed last Sunday, we're the 5th of November and that's it, folks, the Shanghai Disneyland deal is now announced officially!
Breaking news: Disney signs agreement for Shanghai Disneyland

Right now from Reuters Press Agency: - The Walt Disney Co (DIS.N) has signed an agreement with a Shanghai company for the establishment of a Disneyland theme park in the city, bringing its long-planned park in mainland China closer to fruition.

The deal was reached with Shanghai Shendi Group, which was specifically created for the development of the Disneyland project, the official Xinhua news agency said on Friday.

Disney confirmed the Xinhua statement and said it was still awaiting final approval from China's central government regarding the incorporation of the related joint venture companies and the completion of regulatory procedures.

"For quite some time, we have been involved in discussions with the Shanghai government about building a Disney theme park. We can confirm the statement from the Shanghai government that we have taken another step forward in the approval process," a Disney spokeswoman said in an emailed statement to Reuters.

Shanghai's Disneyland is expected to cover around 4 sq km and cost about 25 billion yuan ($3.75 billion), Xinhua said. Disney itself gave no further details.

It was not clear what the ownership structure of the park would be like, but state media reported last year that an investment company controlled by the Shanghai municipal government would own a majority stake in the park.

Disney received approval to build a Disney theme park in Shanghai a year ago, but discussions about the specifics have been ongoing and few details have been released publicly.

Disney has long sought to build in Shanghai, a wealthy city of about 20 million people that is ringed by the prosperous Yangtze River Delta, home to tens of millions more potential visitors.

It was less enthusiastic about building near Beijing, which has fewer large population centers in the immediate vicinity.

Disney's foray into the China market has been mixed so far, with its Hong Kong Disneyland park reporting a loss last year.

Re: Ready for construction - November 2010

Originally Posted by loaloa55

I've told you two months ago on D&M that the Shanghai Disneyland deal wil be announced in November, after the end of the Shanghai World Expo? Well, the Expo closed last Sunday, we're the 5th of November and that's it, folks, the Shanghai Disneyland deal is now announced officially!

To clarify, this was NOT the official announcement. Merely the last major hurdle being overcome. There are still several procedural steps between here and the official announcement.